Howard Stern may return to traditional radio, despite assurances he would never go back to the medium that made him famous and incredibly rich.

The shock-jock is denying rumors he will leave Sirius Satellite Radio, the company in which he has taken a substantial equity interest, however he may yet return to free-to-air radio.

The New York Post today reports that Stern thinks he has lost impact as a performer and a deal between Citadel and Sirius is in the wings that would allow him to reappear in some capacity.

Rival satellite broadcaster XM has already inked a similar deal with CBS Radio whereby Opie and Anthony broadcast a self-censored show from 6am-9am, followed by their far more risque offering on XM from 9am-11am.

Sirius shares ware down substantially on huge volume following the rumours, ironically shedding millions from the value of Stern’s holding.

See Stern’s comments on today’s rumours in our Hot off the Press section.